Mr Tam started his career as an actuary in Canada in 1979. He has extensive experience in the insurance and retirement fund industry in Hong Kong, Mainland China, Asia and North America, having held senior positions in insurance companies and actuarial consulting firms. He joined the Hong Kong Government in 1992, and served in the then Office of the Commissioner of Insurance and the Mandatory Provident Fund Office. He designed the solvency regime for life insurance business when serving as Assistant Commissioner of Insurance, and formulated the Mandatory Provident Fund regulations when serving as Assistant Director of the Mandatory Provident Fund Office. He helped establish the new Mandatory Provident Fund Schemes Authority as an Executive Director. Prior to joining the Insurance Authority, he was Chief Risk Officer for Asia for an international insurance group.